#7 Living in a material world
Experience has made me rich and now they're after me
Dear friends, enemies & nobodies,
How’s this Monday treating you so far? I know I’m sending this early.
You’ll find a little update re: last week’s newsletter at the end of this one. I love that so many of you are so reactive and that the subjects I’m interested in talking about strike a cord! I would love for this community to grow and for the conversation to continue. Substack essentially does not let me publish a newsletter without adding Subscribe and Share buttons – and they’re there for a reason. If you like what you read here for free, consider using them. You can always reply to this email if you want to send praise (preferred)/constructive criticism/requests. 💝
with love, Esther.
💸 What I’m divesting from
💎 Lab-grown diamonds
Diamonds are a girl’s best friend…
But not just any diamond!
We’ve seen a huge change in the way we perceive, and buy diamonds since lab-made diamonds have entered the conversation. According to diamond research firm Edahn Golan, lab-grown diamonds now represent over 17% of the overall diamond market.
They’re more affordable and are seen as more traceable and ethical.
The more visible DTC brand, Dorsey (founded in 2020) couldn’t find investors at first, but has now reached profitability and has sold over 1.7M lab-grown stones in the past year.
Axios reports that consumers are now buying larger stones:
“The average size for natural diamond engagement rings was 1.4 carats last month, Golan says — about 50% larger than before lab-grown diamonds appeared.”
But a sneaky secondary effect is that stones that are TOO large (up to 10 carats) may seem gaudy and even fake, devaluing them. All lab-grown diamonds seem void of secondary market value. Whereas mined diamonds do, and this divide is driving up their value – and price.
“As a result, the average diamond overall sells for about $4,600 — well above the normal level before lab-grown diamonds appeared on the scene.”
Another major aspect to consider is sustainability. A lot of the discourse re: lab-grown versus mined diamonds reminds me of the one re: “vegan leather” versus leather (=greenwashing). Nadine from The Stanza sums it up well in this video. The tl;dr is that the human labour and energy cost needed to produce lab-grown diamonds do not make them the most sustainable nor ethical choice.
Consumers: consider investing in vintage stones.
Investors: consider slowing down on jewellery brands.
📈 Bullish news
Always wanted to be an influencer, never wanted to show your face? You might be in luck. Don’t Look at Me! Why Faceless Creators are the New Viral Sensation [Hollywood Reporter]
Amazon is investing over $500 million in nuclear power [CNBC]
Tom Holland launched a non-alcoholic beer company called Bero. Yes, I’m reporting on non-alcoholic happenings every week. Cheers! [Bero Brewing]
Travels in interiors hyperreality: how AI and the metaverse are changing the face of contemporary design [Financial Times][you may have already seen this if you read Magma]
Hailey Bieber’s Rhode Is Growing Fast. [WWD] Highlights of the conversation: targeting older customers, selling limited-edition items, tech merch (like the lip gloss phone cases) and a London pop-up.
Pistachios! To know me is to know I have a borderline unhealthy obsession with pistachio spread, pesto, you name it. Yes, it’s part of the reason why I’m buying in Sicily. Anyway, Pistakio, a Gen Z-founded CPG company that makes pistachio spread, is launching a crowdfunding campaign to expand its operations. [LinkedIn] Conversations about pistachios grew by 10% over the past year. [The Food Institute]
Glossier is using a drop model for their Holiday Gift Guides [Glossier]
Spotify Premium launches audiobooks. I don’t think I read any announcements until I got an email from them! [Spotify]
Intimate wellness brand Maude is sponsoring an upcoming exhibit at the Louvre’s Musée des Arts Décoratifs titled “Private Lives: From the Bedroom to Social Media.” [WWD]
Women’s reproductive health startup Hertility has found a backer in Emma Watson [TechCrunch] Read my recent edition re: FemTech here.
📉 Bearish news
The Dark Side of Meta’s Algorithms [WSJ]
Netflix's Games division conducted layoffs last week [Business Insider]
Phlur versus Salt & Stone. One deodorant to rule them all? [LinkedIn]
McKinsey is set to pay a settlement fee of $500 million for its role in helping opioid makers boost sales. [Bloomberg]
John F. Kennedy Jr.’s 1990s-Era Magazine Is Back, With a QAnon Twist [NYT] Did you guys also see there’s an upcoming JFK Jr + Carolyn Bessette-Kennedy biopic in the works? [Variety]
The Paris Market Report
🧑🎨 The big thing happening in Paris last week was Art Basel. I now remember why I don’t drink Champagne every day. 2 things:
this lipstick is endorsed by Ellen Von Unwerth. I wear shade 1.
word on the street is that Natalie Portman was there for research for her next role as an art dealer.
💘 An update
Last week’s edition on dating apps has been my most popular yet since The Rebrand. I received a lot of feedback and suggestions. Dating apps as we know them are cooked but there are a few starting points to embrace the digital first-life:
Mobile games to spice up mutual discovery in the first stages of dating. The gamified version of the 36 Questions That Lead to Love?
Better interfaces to integrate VR x dating apps?
My fav news digest!